NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi’s new coalition government on Monday appointed Nirmala Sitharaman as finance minister for a second consecutive term, the government said in a statement. Ministerial posts were allotted a day after Modi was sworn in for a rare third term, and his cabinet held its first meeting on Monday …
Indian PM Modi’s government retains Sitharaman as finance minister Read More »
By Kashish Tandon and Bharath Rajeswaran BENGALURU (Reuters) – Indian shares ended lower on Monday, weighed down by IT stocks on U.S. rate cut concerns, easing from record highs hit at the open as markets took a breather after a sharp post-election results rally. The NSE Nifty 50 index shed 0.13% to 23,259.20, while the …
Indian shares slip after election results rally, IT weighs Read More »
By Milounee Purohit and Vivek Mishra BENGALURU – India consumer inflation likely snapped a four-month downward trend in May due to rapidly rising food costs, according to economists polled by Reuters, suggesting the Reserve Bank of India is still several months away from cutting interest rates. The Reuters poll of 50 economists conducted June 5-10 …
Rising India food costs likely snapped inflation downturn in May – Reuters poll Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – India’s mutual fund assets rose to 58.6 trillion rupees ($701.90 billion) in May, inching closer to adding 10 trillion rupees in less than a year, the fastest rise on record, data showed on Monday. While the fund industry took five decades to build the first 10 trillion rupees of …
India’s mutual fund assets nears 60 trillion rupees in May, data shows Read More »
BENGALURU (Reuters) – Retail sales of cars in India fell 1% in May, tracking slowing wholesale growth, as elections and extreme heat across the country dampened demand and delayed purchase decisions, a dealers’ body said on Monday. Sales growth in two-wheelers slowed to 2.6% in May from 33% in April, said the Federation of Automobile …
India’s retail car sales drop in May as elections, weather delay purchases Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator has proposed tighter rules on trading in individual stock derivatives, arguing the rules were needed to avert risks of market manipulation after recent explosive growth particularly in options trading. The move comes after two sources familiar with the matter told Reuters in April that India’s top …
India proposes tighter rules for derivatives trading on individual stocks Read More »
NEW DELHI (Reuters) – India’s Bajaj Housing Finance Ltd has filed with the country’s markets regulator to raise up to 70 billion rupees ($838.11 million) through an initial public offering (IPO), it said in a statement on Saturday. The firm, a unit of non-bank lender (NBFC) Bajaj Finance, will raise funds through a primary issue …
India’s Bajaj Housing Finance files for $838 million IPO Read More »
By Siddharth Cavale BENTONVILLE, Arkansas (Reuters) – Initial public offerings of Walmart’s Flipkart marketplace and PhonePe digital payments platform could take a couple of years, a Walmart executive said. “This is something we’re looking at over the next couple of years,” Walmart’s executive vice president for corporate affairs, Dan Bartlett, said on the sidelines of …
By Harshit Verma and Rahul Paswan (Reuters) – Gold accelerated declines on Friday after a stronger-than-expected U.S. jobs report doused expectations for U.S. interest rate cuts this year, adding to bearish sentiment driven by data showing top consumer China held off on bullion purchases in May. Spot gold dipped about 3% to $2,304.54 per ounce …
Gold slides 3% on double blow of strong jobs report, China data Read More »
By Hritam Mukherjee and Sethuraman N R BENGALURU (Reuters) -Indian benchmarks closed at record highs on Friday, erasing election day-related losses, on political continuity and a projection of faster economic growth. The NSE Nifty 50 ended 2.05% higher at 23,290.15 points, while the S&P BSE Sensex, closed up 2.16% at 76,693.36. The Nifty added 3.4% …
Indian benchmarks recover from election slump to end at record levels Read More »
